At Apple, even once a decade is too much

An Apple Store “genius” in San Francisco helps a customer with an iPad mini. Bloomberg photo

The world’s most valuable technology company reports its second-quarter results Tuesday, and its profit is expected to surpass what fellow tech behemoths Google and Microsoft reported last week combined. So naturally, analysts and investors are preparing for a disappointment.

That company, of course, is Apple. Its anticipated profit — somewhere north of $9 billion — will represent its first quarterly drop in 10 years. Thus the angst among shareholders, who have driven the stock’s price down by nearly half from its high just seven months ago, from over $700 to just under $400.

Has Apple lost its cool? some are asking. Will it ever again come out with a market-making product like the iPhone or iPad? And in the meantime, how about giving back some of the $130 billion-plus in reserves it is sitting on to placate those who have seen the value of their holdings shrink?

That’s the scenario that CEO Tim Cook must deal with as he makes Tuesday’s announcement. But Apple has surprised the experts before.

To read more about what Apple might have to say Tuesday — and what it might mean for the company and its shareholders — go here.